Tuesday, April 13, 2010

Blogging from A to Z: "I" for Investing...I'm finally doing it...

That's right; after years of proclaiming I was unable to invest and begin to build wealth for my future, I have decided to buckle down and invest. It was a difficult decision, but after thinking about all the money I've been known to waste on things that amount to nothing, I knew it was time. It also didn't hurt that, about a month ago, a study reported that the median wealth for single black women was about five dollars. Five dollars? Now, whether that is true or not is irrelevant, in my opinion. Yes, I know that results can be skewed and that sample populations may not be the most representative, especially if the people performing the research slack on their responsibilities. That said, I can still find a kernel of helpful information in this study. While my wealth is much higher than the median, I can most definitely do better.

So I'm starting off small; I opened a Sharebuilder account since they're offering a $50 bonus when you open an account. Also, since I'm an Inbox Dollars member, I will receive $15 dollars in my Inbox account. Pretty nice deal from what I can tell. I still have a lot of research ahead of me; stocks, bonds, mutual funds, and all that other financial-speak kind of goes over my head, but if I put in the work, I know it will become clear for me. Scared money don't make money (I remember hearing that somewhere). I have to take some risks, smart risks, but risks nonetheless. I'm young, single, and have no extreme responsibilities to anyone but myself, so there is no excuse for not investing in my future.

1 comment:

  1. $5 !! Whoa-- wonder how they came up with that?
    You are wise to start investing now. I wish I would have invested more when I was younger and that I wouldn't have tapped into my investments like I did. I'm probably going to be financially screwed in a few years, but hopefully not.
    Good luck with yours!
    Blogging From A to Z April Challenge